Topic: Who's next in line? - page 2. (Read 235 times)

Do not trust any mate, if you’re in need of which exchange to purchase bitcoin from then I will recommend a decentralized exchange which you can easily get from list here on https://kycnot.me/, once you purchase your bitcoin you move them to your personal wallet. You don’t need to be scared of managing your own wallet all you need to do is to understand how it works, security comes at a price and this price is acquiring the knowledge. As for the choice of an hardware wallet it is a good choice but I will advise against Ledger wallets due to policy issues rather go for wallets like passports or Trezor self. But before going in full make sure you have experiment it with a little amount.


I am also more of a fan of airgapped wallet than regular hardware wallets but I wouldn’t recommend it to a total newbie like him, because the set up and other process can easily have mistakes which would just compromise the wallet. But rather he should go for an open source hardware wallet at least should there be any changes to that wallet policy the tech savvy guys could spot it out easily


I also feel like the attack on this individuals or exchanges is like a direct attack to the cryptocurrency community except if it is case like SBF’s, although they themselves are cony with their centralized protocols but I will rather pitch a tent with them than the government. One thing is once you don’t meet their regulation requirements then the SEC (government per se) will come fully for you.

I'm not a fan of SBF, CZ, Sun, and the rest of them and all their centralized platforms, but I kind of don't like that they're defeated by government agencies that are apparently more corrupt than them. Somehow, I desire for the failure or collapse of all these centralized platforms, but not through repression by the government but by the free choice of their users completely abandoning them. DoJ winning over Binance isn't much of a victory really. 

Centralized exchanges are targets of governmental authorities because they can easily knock doors of those centralized exchanges and request them to meet governmental regulatory request, charge expensive legal fees and more.

Governmental authorities can easily find CEOs of centralized exchanges at their nations or apply extradition do summon those CEOs and bring them to courts.

I don't mind too much about CEOs of centralized exchanges because it is not my interest. If I use their centralized exchanges, honestly I hope they will be good.

Story about Binance and Changpeng Zao reminds me about Satoshi Nakamoto. His decision to leave the forum and Bitcoin developer and communities years ago are very excellent. It is Satoshi Nakamoto's big gift for all of us.

as long as they don't break the rules and follow what the SEC wants, they will be safe. Until today, I really don't care about what happens on another centralization exchange, because I don't save my crypto there, and I rarely don't use exchange for trading. I am still happy because I can change my crypto on my local exchange without a problem. But, still when we talk about CEO, until today, I don't know what the CEO thinks before creating a project in a country where very tight on rules. If they are serious, they must think it how to save the customer money, not think about mere profits.

I think The CEO of Poloniex is sweating bullets right now. Maybe he does not actually have the funds to pay anyone back. As far as I know, withdrawals are still frozen and despite promises of a coming solution, if he has no money then he is just biding for time. He believes he can get the money back with profits that will not exist anymore because nobody is going to use Poloniex after this.

OP missed Arthur Hayes, CEO of Bitmex 
What happened to CZ (CEO of Binance) is almost the same as what happened with Arthur Hayes (CEO of Bitmex) before.
Just incase Justin Sun is the next, then Huobi will be also included as Justin Sun is recently involved with Huobi exchange.

As you can see your off topic reply as derailed the discussion, please I beg you not to derail it any further.

While the image says Sun is next, you forgot to include him to the bullet of highlights summary list.

There's a flash crash but it's not the crash that we're expected to come. More of a quick correction but then the market recovered so quick. I think that we're entering to the bull run already and with news like this, it won't affect it much anymore. It's likely that we're going to see more of this scaring from them. But there's the basis of what they're reasoning out for CZ's chase. Anyway, they are just there monitoring and if there's a little hole that they can and peek in. They're going to dig and make it a bigger one just as what's with the case of CZ.

I have a 70k savings account and 20k available if I sell the car (and get a new one on credit).
I intended to invest 20k in BTC shortly after the FTX collapse. However my deposit on binance (5k euros, and I intended to make 3 deposits) was stopped by the bank and the momentum was gone.

That same 15k investment now only allows me to buy half a BTC or even less.
This also means that if 1 BTC ever skyrockets to the moon, I will only make half of the money that I could have made.

I want to get in now. Hopefully I can do this on Binance, from Belgium. I was advised to go for small deposits first but the price is already rising.
I estimate the odds quite high of my bank stopping a 5k deposit to Binance. I don't know how to proceed if that happens.

He is using already a hardware which is the very best thing a holder can make, electrum's security and safety still matter on the users device unlike using HW.
Also, having electrum is not like managing your "own software", well, maybe because its open source but i wont call it like that.

whos next: barry silbert (DCG)

Does any body else feel they are quickly increasing efforts of making examples out of people like CZ to scare every body else and warn them of what is to come?

I am surprised the Market did not react as much to the news.  I thought Bitcoin would enter yet another temporary crash.  Love him or hate him, CZ has always done things to lower the level of heat.  This still sounds like a 'start telling us you are doing wrong before we make you say it out loud' kind of threat to every body else who is doing similar to what CZ has done.

What just happened to Binance CEO, any exchange can be next. Why do you have to trust any exchange? You should be the one controlling your money yourself. If you allow a third party to control your money, then you are wrong. All I do on exchange is just buy bitcoin, and after buying it, I do send it to my personal wallet instantly, which I know am the one in  control of it. If you are not confident about your skills, all I will recommend you do is go for more research and learn. If you will be making investments, you shouldn’t be tired of reading because we know money is involved. Any slight mistake can lead to you losing your entire investment.

In the grand scheme of things, 5% rise is nothing. Do you really thinnk that once BTC goes above 100k it will matter to you whether you bought it at 35k or 37k? Don't let this feeling linger on you and instead just start investing, preferably as soon as possible. Another thing, instead trying to time the market (as you will fail at it anyway), you might wanna consider DCA investment method.


Managing HW ain't that hard at all. Just get one (preferably open source), send smaller amount of bitcoin first to figure things out and once you feel more comfortable, send the rest. 

Because of all this turmoil, I expected BTC to drop in value today.
But I woke up and after CZ's resignation, it is up 5%. Bad news for me and it feels like the ship has sailed.

On one hand I want to get in asap. On the other hand I am worried that I should invest more time into managing a wallet (avoid losing everything), and the halving is nearing while the price is already rising.

Any exchange that is operating within the US.

And with that, the first exchange that comes to my mind is Coinbase, and since this is US based, they have been fighting against SEC for the longest time now.


https://www.coindesk.com/policy/2023/10/23/coinbase-poised-to-make-final-pitch-in-bid-to-kill-sec-accusations-quickly/

So we will see how this things settle down between SEC and Coinbase. Or if SEC will also used their hammer against a US based crypto exchange, or if they want to show force that anyone can be under their microscope and could suffer the same fate as Binance or CZ.

They will target any exchange that wants to lead the crypto industry. It's the US, and it's not very easy to convince them. The SEC is playing a major role in controlling the crypto market. CZ was one of the top crypto leaders, and the US forced him to leave his company. How funny a thing! Anyway, day by day, centralised exchanges are becoming more risky to use. Because Binance was the most trusted and the US succeeded in forcing the CEO to pay a penalty and leave. I don't know what will be in the future.

Don't trust any exchange bro because they can do whatever with your money they want and trusting them with you money isn't a good choice. I recommend you to learn about personal Bitcoin wallets and especially software wallets like Electrum and then try to create your own personal wallet and deposit your Bitcoin into that.

I won't recommend you to go with Hardware wallets as they can't be trusted because sometimes they may contain malware which could be very risky. Go with a software wallet like Electrum and save your private keys and seed phrases on secure locations and then disconnect the pc that you used to create your wallet because air-gapped system is the most secure way to keep your Bitcoin safe.

None. With Bitcoin you do not trust, you verify.
You do things yourself without having to rely on the legitimacy of a third party like banks.

Will you be more confident managing your own software wallet like electrum for a start? It is just a basic app and does not have any complex controls, the only difference between it and an exchange wallet is you actually own the wallet and have the seedphrase which you have to back up.

- Jay -

I had issues depositing on Binance (I am located in Belgium) 5 months ago. My deposit arrived but was immediately taken back by some banking group.
3 days ago I asked in a crypto group if these issues are resolved now. They said that Binance can operate in Europe based on a Polish license. It was also suggested that I used Kraken to get my hands on BTC.

One day later I heard that CZ gets a multi billion dollar fine, and that Kraken is also in a legal battle.
I literally don't know which exchange to trust for my first investment. And I'm not very confident in my skills to manage my own wallet (Ledger nano x) as a beginner.